Capital Markets and Financial Institutions

This course consists of two major parts. The first part is devoted to the nature, role, and functioning of financial institutions in the developed capital market. The second part deals with the Russian capital markets and financial institutions. The principal goal here is to screen the local experience against worldwide theory and practices in order to identify both common and specific features of developed and emerging markets.

Konstantin Kontor,
AIBEc Professor

Certificate in Accounting

Purpose of the Certificate in Accounting

The Russian economy, including key aspects of its legal and accounting systems, continues on an irreversible path toward integration into the world economy. US GAAP and IAS are the two dominant accounting systems, and more and more professionals in accounting are working in them, along with Russian accounting system. Accounting courses at AIBEc focus on the issues that are most significant for Russian managers. AIBEc’s courses also emphasize the latest issues in accounting such as Sarbanes-Oxley, use of Special Purpose Entities for securitization and recent changes to GAAP/IAS. Special emphasis is placed on the role of international accounting rules in the integration of Russian companies to the world market.

Components of the Certificate in Accounting

In order to complete the requirements for the Certificate of Accounting, students must complete the following courses:

Financial Accounting

Introduction to the recording of business transactions and interpretation of financial statements, emphasizing US GAAP.

Comparative Taxation

Covers fundamental concepts of taxation and examines the current Russian tax system from an international comparative perspective with reference to both U.S. and Western European practices.

Principles of Business Law

Covers basic US and Russian legal institutions, civil and criminal law, contracts, commercial paper, negotiable instruments, secured transactions, and other topics.

Managerial Accounting

Accounting for costs with applications to managerial decision-making. A thorough review of most managerial accounting issues of importance to many organizations such as cost allocation, activity based costing, budgeting, standard costing, just-in-time inventory and many other topics.

Accounting Analysis

How accounting rules influence decision-making, valuation and the global financial crisis. Topics include: credit rating agencies and the analysis they use to rate companies, equity accounting, business combinations and consolidations, methods used to manipulate accounting numbers, crisis issues such as mark-to-market and impairment of assets, future trends in IFRS, GAAP and RAS.

Optional courses for this certificate include Corporate Finance and International Transactions.

Relation to the CPA Exam

Although the AIBEc Certificate of Accounting is not designed specifically as a prep course for the CPA (Certified Public Accountant) exam, all of the courses include material that is covered on the exam, and many use cases and examples that are similar to those used in the exam, and are similar in structure and content to accounting and law courses offered at any US university.

Students who wish to take the CPA exam in the United States after completing the AIBEc Certificate in Accounting are urged to familiarize themselves with the established procedure for certifying courses in non-US universities as prerequisites to the exam. AIBEc staff can provide additional information about the steps needed to prepare and apply for the CPA exam.

Accounting Program Director

The head of AIBEc’s accounting program is Prof. Art Franczek, who holds and MBA and Masters of Taxation from DePaul University and is a CPA with over 20 years of practical experience. He is an active participant on the Tax Committee and Co-Chair of the Custom’s Committee at the American Chamber of Commerce in Moscow. Before coming to Russia, Prof. Franczek served as corporate tax manager for Liquid Carbonic Corporation.

Business Psychology (II)

Business Psychology (II) course starts on Monday, January 29, 2018.

Entrance Exam

You could take AIBEc Entrance Exam from August 22, 2017 till September 30, 2017. Students who achieve qualifying score on the exam pay reduced tuition.

Spring Semester, 2018

Fall Semester starts on January 29, 2018.